Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Checking In With 2021’s Retail IPOs – Joann and First Watch

by 
Shira Petrack
 on 
March 1, 2022
Checking In With 2021’s Retail IPOs – Joann and First Watch

Despite the COVID and supply chain challenges of 2021, several major retailers chose to go public last year. We looked at some of the companies – including Warby Parker, Arhaus, Allbirds, and Dutch Bros. – in our Top 10 Retail Brands to Watch white paper. Here, we dive into two more recently public brands – Joann and First Watch – to see how they finished off 2021 and where they stand in 2022. 

Joann

Joann (previous Jo-Ann Fabric and Crafts), which went public in March 2021, was a major beneficiary of the pandemic crafting boom. According to the company’s SEC filing, Joann gained 8 million new customers between February 2020 and February 2021, many of whom initially visited stores to purchase fabric for homemade masks and subsequently expanded their shopping behavior across the brand’s diversified merchandise categories. The company also estimated that up to a quarter of its customers are semi-professional crafters, who buy supplies at Joann to produce handmade goods that are then resold on online marketplaces such as Etsy or Shopify – a segment that may grow should “The Great Resignation” continue. 

Foot traffic data from 2021 shows that Jonann is successfully holding on to its pandemic gains. Except for a slight 1.9% Year-over-Two-Year (Yo2Y) dip in September – likely due to the spread of the Delta variant – monthly visits have exceeded or remained consistent with 2019 visit levels all year. And Joann finished the year with a 6.3% Yo2Y increase in December foot traffic. 

The company has also invested in its omnichannel capacities - launched an international e-commerce expansion, and announced a strategic partnership with sewing machine leader,

Singer. So far, it looks like Joann’s efforts to build its brand and spread its reach are continuing to pay off in 2022. The craft and sewing supplies retailer started off the year strong, with Yo2Y almost every week for the first seven weeks of the year. 

First Watch

First Watch went public in October 2021, following almost a year of accelerated growth and store fleet expansion. The chain operates on a model that is radically different from other breakfast providers. While some diner brands, such IHOP, Waffle House, and Denny’s are open late into the night brands – or even 24 hours a day – First Watch brands itself as a daytime cafe and closes its locations at 2:30 PM every day. And although mid-day visits have been down across the dining sector – including at McDonald’s – the emphasis on mid-day visits does not seem to have hurt First Watch’s performance. 

First Watch’s visits have been up every month in Q3 and Q4, and the brand also reported increases in same-store sales and traffic growth. Our own data shows that First Watch has succeeded in maintaining consistent visits-per-venue levels despite operating more stores, which means that the new stores have successfully integrated into their respective communities and built a solid consumer base.

Recent data indicates that First Watch’s ascent is set to continue in 2022. Yo2Y visits were up every week this year, with visits the week of Valentine’s day up almost 10% compared to 2019. As the brand continues to expand its store fleet, expect an even brighter future for this newly public dining chain.

For more data-based retail insights, visit placer.com/blog

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In
Placer.ai Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth
Placer.ai Mall Index: March 2024 Recap – Malls Rise Again
Placer.ai Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!
Provo-Orem and Ogden-Clearfield Emerging As Utah Hotspots 
Three Formulas for Experiential Retail in 2024
Aldi & Lidl Making The Cut
Texas Suburbs on the Rise
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024?
Placer.ai White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy
Placer.ai Mall Index: February 2024
Placer.ai Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024: Placer.ai’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains
Placer.ai Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance
Placer.ai White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top
Placer.ai and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap
Placer.ai Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season
Placer.ai White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season
Placer.ai Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success